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Presidential Launches Equipment Leasing Program

Presidential Savings Bank is expanding its business credit activities to accommodate customer needs and further diversify its assets, Presidential will now provide lease products, as well as business loans and lines of credit, to established middle market credits in the Mid-Atlantic region.

In its new Equipment Leasing Program, headed by Mike Altenburger, Presidential will acquire leases from end-users, equipment dealers, leasing companies and qualified brokers. Its focus will be on full payout leases of three to five years, with transactions typically ranging from $50,000 to $500,000. Presidential will fund transactions primarily for its own account, and can therefore be flexible with rewrites, upgrades, and meeting other customer needs. Presidential is a credit lender, requiring complete financial packages with submissions. Presidential also has expertise in financing government lease contracts.